February 9, 2012, 6:14 a.m.Greece has reached a tentative agreement on new austerity cuts demanded by creditors to release a (euro) 130 billion ($173 billion) bailout, hours before a crucial meeting of finance ministers in Brussels, Prime Minister Lucas Papademos' office said Thursday.

A spokeswoman said the agreement with the majority Socialists and the conservatives will allow alternative cuts to those rejected early Thursday during a marathon meeting of the three coalition party leaders. No details were available on what alternative measures would be chosen.The spokeswoman spoke on customary condition of anonymity.

Mario Draghi, the president of the European Central Bank, confirmed the latest stage in the austerity talks, telling reporters at a press conference in Frankfurt, Germany that the Greek party leaders had accepted the terms of the deal. The ECB is involved in the debt talks along with the European Union http://www.latimes.com/news/nationworld/world/la-fgw-greece-austeri...

Workers at Athens public transport means will launch strikes and work stoppages during the 48-hour general strike kicked off by public and private sector unions, ADEDY and GSEE for Feb 10 and 11, 2012.

So far it has been known that Blue Buses, the Trollye, TrainOSE trains and Proastiakos will not operate at on Friday and Saturday.

According to some information, only the Tram and the Urban train HSAP will operate between 10 am and 5 pm, to faciliate protesters to join the demonstrations planned for Friday and Saturday at 11 am outside the Greek Parliament at Syntagma Square.

LETS systems allow members to buy goods and services through offering the seller an IOU (which is what a cheque is). The seller then has a credit balance to use to purchase whatever they want from within the system. The buyer has a debit balance and is expected to trade their way out of that debt in time. The total of all the debit balances equals the total of all the credit balances. No interest is charged on debts nor is interest given on credit balances. People are expected to trade back and forth. The 'money' or credit is issued in exactly the right amount to cover the production created within the system. This money is created at the same time as an article or service (wealth) is sold. Therefore it cannot be inflationary.

It is necessary for this credit to be denominated in the nation's currency to make it easy for businesses to incorporate trading in the LETS system without having to run two sets of books. LETS units are treated exactly like ordinary currency for bookkeeping, management accounting and taxation purposes. There's no difference and this is exactly what we want; to expand the nation's money supply, legally! Money, in the form of credit, is legally created by the members of the system when they give IOU's to each other for goods or services. IOU's are entirely legal. IOU's are created, exchanged and cancelled in a multi-member double entry bookkeeping system just the same as happens with a bank. The result is added wealth production and trade for the community without the costs and control imposed by the banks.http://www.winterpatriot.com/node/681

"Since you are continuing this destructive policy, we warn you that you cannot make us fight against our brothers. We refuse to stand against our parents, our brothers, our children or any citizen who protests and demands a change of policy," said the union, which represents more than two-thirds of Greek policemen.

"We warn you that as legal representatives of Greek policemen, we will issue arrest warrants for a series of legal violations ... such as blackmail, covertly abolishing or eroding democracy and national sovereignty.

Greek prime minister Lucas Papademos has told politicians to back a deeply unpopular EU/IMF rescue in a vote on Sunday (local time) or condemn the country to a "vortex" of recession.

His address to the nation came after the cabinet approved the austerity cuts to get vital rescue funds ahead of Sunday's vote on $4 billion in wage, pension and job cuts.

The latest effort to ease Greece's huge debt burden has brought thousands into the streets in protest, and there were signs on Saturday of a small rebellion among politicians uneasy with the extent of the cuts.

Mr Papademos said parliament had a historic responsibility to back the bill or face catastrophic consequences if Greece misses a March 20 deadline, when Athens must repay nearly $18 billion in maturing debt.

"A disorderly default would set the country on a disastrous adventure," he said.

"It would create conditions of uncontrolled economic chaos and social explosion.

Thousands Greeks have already flocked and more thousands Greeks are still flocking to Syntagma Square in downtown Athens to protest the voting of new loan agreement and austerity package. Protesters have raised banners saying “We Will Win” and “Get out of Here”. The metro stations <Panepistimiou> and <Evangelismos> were closed http://www.keeptalkinggreece.com/2012/02/12/athens-430-pm-thousands...

ATHENS, Greece — Rioting spread across central Athens and at least seven buildings went up in flames amid mass protests late Sunday, as lawmakers debated harsh cutbacks demanded to keep the country solvent and within the eurozone.

TV footage showed a three-story corner building completely engulfed in flames with riot officers looking on from the street, and firefighters trying to douse the blaze. The buildings set ablaze included a bank, a mobile phone dealership, a glassware store and a cafeteria, the fire department said. It was not immediately clear whether there was anyone inside the burning buildings.

Clashes erupted across the city center after more than 100,000 protesters marched to parliament to rally against drastic austerity cuts that will force firings in the civil service and slash the minimum wage.

Riot police fired dozens of tear gas volleys to clear the streets around parliament of rioting youths, who attacked them with firebombs, fireworks and chunks of marble smashed off the fronts of luxury hotels, banks and department stores.

The Greek Regime threatens tonight the citizens with starvation,lack of fuel,medecins etc if the vote for the new austerity measures is negative..A practice that cannot and will not be tollerated by the citizens and/or the international community...

Greek riot police are engulfed in flames during a rally on Sunday against the prospect of further austerity cuts. Photograph: Simela Pantzartzi/EPA

Greece's parliament was expected to defy angry protesters on the streets of Athens and endorse a deeply unpopular package of savage austerity measures in order to try to avoid a sovereign default and retain the euro as its currency.